Avolta AG

AVOL: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 23.00	Ppyqsw	Mfmkpxnty

Dufry Continues To Benefit From Postcoronavirus Recovery Despite Inflation

Jelena Sokolova

May 10, 2023

Business Strategy and Outlook

As a leading player in travel retail and a leading concession operator in airport retail with around 20% market share, more than double that of its next biggest peer, Dufry is well positioned to benefit from increasing global travel flows. Over the years, Dufry has played the role of consolidator in a globally fragmented industry, allowing it to achieve purchasing scale, breadth of store formats and product offer, and geographical diversification.

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